No Let Up in Housing Demand.

by Pete Belcastro
Lennox Scott is the grandson of the John L Scott, who started his real estate business in 1931.  Lennox was in Southern Oregon recently speaking to assembled JLS agents in Medford on 25 June.
For more than an hour, and without script, he described his view of the current and future real estate market.  He ought to know this stuff as a member of the research committee of the National Association of Realtors.
According to Scott, trends point to a continued demand for housing that will outstrip the supply for many years to come.   He does add, there will be adjustments along the way.
The obvious question was asked of him, “Why?   Scott’s answer was straightforward, demand for housing in the West Coast will continue for various factors.   1) the Mellinials are coming, all 80 plus million the largest generation in US history.  2)  Overseas buyers are driving demand in large western cities and its spreading to rural areas next.  3) lending remains restricted to qualified buyers,   I’ll add one more, interest rates need to remain where they are to keep buyers ability to pay in tact.
Hearing Lennox Scott’s take on the market is a testament to optimism for the future of real estate sales and that is good news.  Without a robust housing market our economic future will not be a rosy.
I interviewed Lennox Scott and you can hear our interview during the July 11 Real Estate Show on KMED AM 1440 FM 106.7.

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